Ad Article 17U.K.
It is understood that the provisions of Article 17 do not affect the right of either contracting Party to require, by their internal legislation, the prior consent of the competent local authorities before foreign companies or associations can institute local branches or agencies for the carrying out of banking or assurance operations.
It is understood that the provisions of this treaty, which secure in Portugal most-favoured-nation treatment to British goods and vessels shall not apply to the special favours which Portugal accords, or may hereafter accord, to the goods or vessels of Spain or Brazil.
It is understood that this treaty shall not come into force until the sanction of the British Parliament for Article 6 has been obtained.
The present protocol, which shall be considered as approved and sanctioned by the contracting Parties, without any other special ratification, by the sole fact of the exchange of the ratifications of the Treaty to which it appertains, has been drawn up in duplicate at Lisbon, the 12th August, 1914.
DeclarationU.K.
The plenipotentiary of His Britannic Majesty on signing the treaty declares that the concession by His Majesty’s Government in Article 6 is made only in return for improvement in the Customs treatment of British goods by the Portuguese Government, and without prejudice to the views of the two contracting Parties as to the proper interpretation to be placed on Article 4 of the Madrid Convention of the 14th April, 1891.